Agnico-Eagle Mines Limited (NYSE and TSX: AEM)

    Agnico-Eagle extends new gold zones in Mexico, Finland and Canada


    Stock Symbols: AEM (NYSE and TSX) (All dollar amounts expressed in U.S. dollars unless otherwise noted and all units of measurement expressed in metric unless otherwise noted)


    Last Update: 3:00 AM ET May 9, 2007


    TORONTO, May 9, 2007 /PRNewswire-FirstCall via COMTEX/ -- Agnico-Eagle Mines Limited is pleased to provide an update on its exploration activities. Encouraging results have been received from several of the development properties in Mexico, Finland and Canada, including results from outside of the current gold reserve and resource envelopes. The budgeted exploration expenditure in 2007 exceeds $40 million, the highest level in the Company's history. Currently 23 drill rigs are turning, targeting 175,000 metres of drilling for the year.
    It is anticipated that drilling at the current projects will enable Agnico-Eagle to reach its year-end 2008 target of 18 million to 20 million ounces of gold reserves, up from current gold reserves of 15.4 million ounces. More importantly, several of the recent discoveries are outside of the currently contemplated mining areas. Agnico-Eagle's gold reserves are all located in mining-friendly regions with low political risk.
    With four new gold mines under construction, and another new project nearing development, Agnico-Eagle is aiming to increase its gold production fivefold over the next three years.

    Monday December 10, 5:00 pm ET
    http://au.us.biz.yahoo.com/cnw…o_cash_dividend.html?.v=1


    Highlights of this corporate update include:
    - A 50% increase in the 2008 dividend to $0.18 per share
    - A 20% increase in gold reserves at Meadowbank to 3.5 million ounces
    increasing the mine life by one year and Agnico-Eagle's total gold
    reserves to 16.3 million ounces
    - Annual payable gold production(1) to increase over five-fold to
    approximately 1.4 million ounces by 2011 with total cash cost per
    ounce(2) expected to be approximately $200
    - Steady state gold production expected to average 1.3 million ounces
    from 2010 to 2017 with total cash operating costs expected to be
    approximately $250 per ounce
    - Exploration upside intact with over $65 million of exploration
    expenditures budgeted in 2008 towards 270,000 meters of drilling as
    the Company targets 18 to 20 million ounces of gold reserves within
    the next 15 months
    - An agreement with its syndicate of lenders to refinance its currently
    secured facility with a $300 million unsecured five year revolving
    credit facility


    Hier Kurzfassung auf Deutsch:
    http://www.rohstoff-welt.de/news/artikel.php?sid=4070


    Das sollte ja positiv für den Kurs sein.

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